Furon Sees 21% Gain in Earnings, 3% in Sales
Furon Co., a Laguna Niguel manufacturer of products primarily from high-performance polymer materials, posted a 21% gain in earnings for the fourth fiscal quarter as sales climbed 3%.
Net income for the three months ended Jan. 30 totaled $7.4 million, or 40 cents a share, up from $6.1 million, or 32 cents a share, for the like period a year earlier. Sales increased to $127.9 million from $124.1 million.
Furon said net income and sales set records for the year.
Net income rose 4% to $22.6 million, or $1.22 a share, from $21.7 million, or $1.16 a share, for the prior year. Sales were up 2% to $493.5 million from $485.6 million.
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